Global M-Commerce Market: Overview
M-commerce stands for mobile commerce and it uses wireless technology to conduct commercial transactions online. This technology uses laptops, cellular phones, tablets, and others. Mobile commerce consists of purchase and delivery of wallpapers, mobile games, and ringtones. Owing to the convergence of the mobile phones, video players, and portable audio players the purchase and the delivery of the full-length music tracks and videos have risen. 4G networks make it possible to buy movies and much more online.
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Global M-Commerce Market: Growth Factors
The increasing adoption of electronic commerce has positively influenced the global M-commerce market. Technological advancements made in the wireless handheld devices gives the benefit of great computing power, rapid adoption of online commerce, and rapid growth of mobile commerce these are some of the major factors that are driving the global market. Increasing concerns regarding security issues and rising mobile consumer base anticipate fueling the M-commerce market. Mobile commerce is beneficial for various industries such as entertainment, education, enterprise resource planning, commerce, dispatching and inventory tracking, travel and ticketing, and traffic thus opening up new growth opportunities. However, the inadequate power of processing, slow internet speed in some regions, and a dearth of mobile literacy are factors that hamper the M-commerce market growth to some extent.
Global M-Commerce Market: Segmentation
The global M-commerce market is categorized based on the payment mode, type of users, and transactions. The payment mode is segmented into wireless application protocol, near field communication, direct carrier billing, and premium SMS. Based on the type of users, the market is segregated into feature phone users and smart device users. On the basis of transactions, the M-commerce market is diversified into M-billing, M-retailing, M-ticketing/booking, and other M-commerce services.
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Global M-Commerce Market: Regional Analysis
Growing adoption of mobile commerce in the Asia Pacific region is the major key factor fuelling the global M-commerce market growth. The growing purchasing power and the increasing disposable incomes in the emerging economies such as China and India provide the choice to the consumers to purchase more products which largely foster the growth of the market. North America has proactively participated in making M-commerce a vital part of the daily commercial transactions. Rising consumer base for mobile commerce, increasing popularity of handheld devices, and proliferation of technology are some of the factors that contribute to the market growth in the European region. Increasing awareness about mobile wallets and several benefits that are provided by them has widely increased the use of online transactions across the Latin America and the Middle East regions.
Global M-Commerce Market: Competitive Players
Major players dominating the global M-commerce market are Walmart Inc., Sears Holdings Corp., Microsoft Corp., Target Corp., Costco Wholesale Corp., Apple Inc., Barnes & Noble Inc., Office Depot Inc., Alibaba Group Holding Ltd., Softcard, Google Inc., J. C. Penney, Liberty Interactive, and GameStop. Other prominent market vendors include Amazon.com Inc., LL Bean, Newegg, MasterCard Inc., Groupon, Netflix Inc., Kohl’s, Bank of America Corp., Zynga Inc., Best Buy, Macy’s, Rakuten Inc., BlackBerry Ltd., Staples, Visa Inc., eBay Inc., ASOS.com, and PayPal Inc.
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